NU Online News Service, July 25, 3:34 p.m. EDT
A senior Republican member of the House Financial Services Committee plans to introduce legislation next week that would bar federal regulators from designating insurance companies as systemically significant.
Rep. Scott Garrett, R-N.J., disclosed his plans in comments at a House Financial Services Committee hearing where Treasury Secretary Timothy Geithner reported on the operations of the Financial Stability Oversight Council.
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